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Leasing News is a web site that posts information, news, and
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Thursday, March 28, 2013

Archives---March 28, 2001
 FlexLeasing (Griffin & Associates) Closes Their Doors
  Classified Ads---Sales
Banks Lending or Not Lending?
 Conversation with Deborah Monosson
  Pacific Western Bank Responds to Evergreen Non-Notification
   By Christopher Menkin, Publisher
    Companies who utilize Evergreen Clauses
     for Extra Lease Payments
 New Hires---Promotions
  Court Invalidates $21,000 Copier CoActiv Lease
   to Put Out to Bid
    by Sergio I. Scuteri
     Classified Ads---Help Wanted
 Failed banks: Class of 2013
  By Aarti Kanjani and Robert Clark, SNL Financial
   Commercial Real Estate Growth Small Growth
    Highest at Banks between $10B and $50B
     By Harish Mali and Robert Clark, SNL Financial
      In-N-Out’s Burger Ranked Top Fast-Food Burger in US
 Fed Funds Rate Below Deposits Rates for the Longest Time
  Puget Sound Bank Acquires Core Business Bank
   TRALA Elects Steve Lawrence of Lawrence NationaLease
     as 2013-2014 Chairman
      Directors Appointed for Various Terms
 Special Easter Edition: Great Films to View
  By Fernando F. Croce
   Labrador Retriever/Shepherd (Unknown Type) Mix
    Boston, Massachusetts Adopt-a-Dog
     Classified Ads---Employment Web Sites
News Briefs---
 Twitter Takes Aim at $1 Billion A Year in Ad Revenue By 2014
  McDonald’s Fires Volley at ‘Underground’ Competitor
   Memo to the governor: A post-Boeing state
    Judge approves American-US Airways merger
     2013 Holi Festival in India, part two
      Attacks Used the Internet Against Itself to Clog Traffic

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Archives---March 28, 2001
FlexLeasing (Griffin & Associates) Closes Their Doors

"After twenty years in the military and nineteen years in leasing, it's time for me to retire," Chuck Griffin, president of FlexLeasing, Albuquerque, New Mexico told Leasing News.

The company was planning to merge, but an investor backed out, Griffin said.

His bank had merged with another and the warehouse line was gone. There are a number of loose ends, including advance rentals and other issues, he is trying to work out.

He states there is no money left, and to add injury to this madness, is also in the middle of a divorce proceedings with his wife.

"The banks are taking over the leasing business," he said. " Who needs all this headache. I'm getting out of here and taking early retirement."

Photo shows Chuck Griffin, CLP, Griffin & Associates, then
president Certified Leasing Professionals.

(Actually the photo caption is incorrect, as third standing from left
is Chuck Griffin; standing to the right of Bruce Kropschot and to the
left of Jim Merrilees .Editor)

The 1991 Western Association of Equipment Lessors Board of directors posed for this picture with the Pacific Ocean in the background as the evening Gala at The Lodge at Pebble Beach was about to commence. The 1991 Executive Committee (seated l to r) are President Bill Grohe, VP Marketing, Brentwood Funding Enterprises; Vice President Hal Horowitz, CLP, EVP, Interbank Leasing Company; Immediate Past President Ron Wagner, CLP, President Heritage Leasing Capital; Executive Vice President Jon Bednerik, CAE (not pictured is Secretary/Treasurer Gordon Roberts, VP First Concord Acceptance Corporation).

Standing (l to r) are Board of Directors Members Bob Grenzer (no affiliation mentioned), (should be Bruce Kropschot) President, Kropschot Financial Services; Chuck Griffin, CLP President, Griffin & Associates; Jim Merrilees, CLP, President, Colonial Pacific Leasing Corporation; Peter Eaton, CLP, Regional Vice President, First National Leasing Corporation; Robert Jacobson III, CLP, Consultant; Francie Wilbourne, West Coast Manager, ORIX Credit Alliance Corporation; Oren M. Hall, Partner, Heritage Financial Services. (Not pictured are Barry Ferns, Esq., Ferns & Ferns, and Ginny Young, EVP, Nova Leasing Corporation.)
    WAEL Newsletter

Coda: From Jim Merrilees, Tip Capital:

“Left to right standing is Bob Grenzer, Bruce Kropschot, Chuck Griffin, me, Peter Eaton, Robert Jacobson, Francie Wilbourne, Oren Hall.
“Chuck passed away a while back. Don't know the date.”

Obituary from Internet Search:
Charles Kevin "Chuck" Griffin Sr., 64, died on September 5, 2007. He was born in Watertown, MA. Chuck devoted his life to community service, serving the country as a pilot in the U.S. Army for 20 years and later helping thousands of people with his service to Civitan International, where he founded three community service clubs and served on the international board of directors. He owned several businesses in the last two decades including Albuquerque Leasing and Flex Leasing. He also was an avid balloonist, having flown in 25 Albuquerque International Balloon Fiestas and holding the world record for the most sky divers to jump from a hot air balloon. He was the pilot of that flight. Chuck is survived by three children - Grace Ann, Charles "Kevin" Jr. of Baton Rouge, his wife, Trista and their children, Colin and Teagan , and Sean; a sister, Beryl Basham of San Diego, her husband, Daryl and their children, Brandon and Blair; two brothers, Brian of Los Angeles and Gerald of Virginia and the mother of his youngest son, Joanie. He is preceded in death by the parents that raised him, Gwen and Negail Riley. A Memorial Service will be held at 10 a.m. Saturday, September 29, 2007 at the Albuquerque International Balloon Museum, 9201 Balloon Museum Drive NE . Memorial contributions should be made in Chuck's name to the Civitan International Foundation, 1 Civitan Place, Birmingham, AL 35213.



Classified Ads---Sales

(These ads are “free” to those seeking employment
or looking to improve their position)

Central Valley, California
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Garfield, NJ
15 years experience small to large ticket sales exp. All types of equipment industries. Vendor & direct. Self motivated. Work with leasing company or broker.
Tony Lio
Montgomery, AL
Individual with 10 years advertising sales exp. & 7 years insurance sales exp. Wants independent contractor situation in Alabama.
Work with leasing company or broker. 334-590-5133

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Have an established office w/Lessee/Vendor following
Request direct funding source to exclusively partner with.

San Francisco Bay Area:
15 year Vendor Program Agreement HUNTER. Currently employed at major IT manufacturer captive supporting direct and channel sales. Must have base, commission and benefit package.

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Free Posting for those seeking employment in Leasing:

All “free” categories “job wanted” ads:


Banks Lending or Not Lending?
Conversation with Deborah Monosson

President, CEO
Boston Financial & Equity Corporation

A recent article in Leasing News titled "Small Business Lending down in 2012, but big banks continue to lead the market" (1) brought a conversation on "Bank Beat" with Deborah Monosson, President & CEO Boston Financial & Equity Corporation, President & CEO, Boston Financial & Equity Corporation.

Deborah Monosson • "Its curious that the banks and the WSJ keep telling us banks are lending more...when the numbers keep showing us otherwise...."

Christopher "Kit" Menkin • "There is not an easy answer to your question. The charts show an increase in large loans, meaning more money is being lent, and by the larger banks, who are in this marketplace, where the regional and community banks are not. The profits to the banks are up compared to three years ago.

"The charts do not show the size of the loans, meaning the loans under $100,000 for business are quite less, as are the $250,000 and many of these are not just the size, but perhaps safety in the margin that the bank charges. This "small ticket" marketplace (considered by banks as under $250,000) is more for the "C" and "D" or as you know, the new businesses, the companies that are "B" but require a larger loan or lease than they would qualify for in the major banks, who are financing other financial institutions who take this type of transaction.

"This financing is also in their loan portfolio, and while the profits and dollars are higher, the actual individual loans are down as they are being taken by others, many who the banks finance and are counted in the large loans.

"So they are lending more, but not directly..."

Deborah Monosson • "Guess I should have been more specific...There have been numerous articles about how banks are lending to small businesses...etc...but in reality they are not. Its Media hype...I believe most small and medium size businesses ...are getting financing from independent finance and leasing companies..."

Christopher "Kit" Menkin • "Press Releases are usually to promote something. The reality is there are more payday loans, cash advance, high rate business loans, subprime lenders doing extremely well, meeting the demand. If you can increase your profit, improve your cash flow, the rate is not as important as having access to improving your business with more advertising, more product, more inventory, better service, and improving your margins.

"So I would agree, the marketplace is seeing more business with non-bank enterprises. If the banks were lending more, these companies would not be growing as much as they are, as well as being well received by their customers!"

  1. Small business lending down in 2012, but big banks continue to lead the market
    By Harish Mali, SNL Financial


Pacific Western Bank Responds to Evergreen Non-Notification
By Christopher Menkin, Publisher

While it has not been direct communication to Leasing News, Pacific Western Equipment Finance, a subsidiary of Pacific Western Bank, Cottonwood Heights, Utah, has been seeking business from brokers, introducing the following statement:

"We are aware of the article that has been posted in a leasing blog including PWEF on a list of companies utilizing what is commonly referred to as an Evergreen Clause in their lease agreements. While we feel our inclusion on this list is inappropriate, we have a policy of not engaging in public debate on internal policies and procedures. We are, however, happy to respond to individual concerns by our customers in the broker arena."

"The information relayed in the newsletter was incomplete and not reflective of our policies and procedures as a whole. Yes, the PWEF Master Lease document includes end of term options that provide options to purchase, renew or return the equipment with a standard notification period. PWEF specializes in providing true leases for soft collateral, making this provision a necessary component of that structure. We not only welcome, but encourage discussion of this provision during the documentation process. It is also important to note that PWEF has a standard policy of providing notice to all lessees that the end of term notification period is approaching; outlining their various options at that point."

"In the case of capital leases ($1 out or Puts) the end of term options outlined in the Master Lease are superseded by the end of term options outlined on the individual Equipment Schedule(s) and the notice provision is waived. While we DO refinance Puts or balloon payments upon lessee request, we do NOT put finance leases into extensions."

"Please be assured that as a regulated banking entity, PWEF maintains the highest possible level of integrity in all business matters. We value our customers and broker relationships and place high value on repeat business. As always, we welcome open and frank dialogue on all matters."
    (end of statement)

First, there are many banking entities who charge extra payments, extra fees, and do not notify the borrower or lessee at the end of the term as the borrower or lessee has not given 180 day (or whatever the date may be). For instance, Republic Bank, Bountiful, Utah is on the list.

Most important, as stated the preceding company Marquette Equipment Finance (also a bank subsidiary) has a number of legal cases regarding the issue. A copy of the Pacific Western Bank Equipment Finance has the same paragraph that was in the Marquette cases. It may be five years, or if early buyouts, until the complaints start coming in about the non-notification, as well as the wording of the value of the equipment.

Most likely Equipment Finance Agreements may not have a balloon or purchase option, many companies have invoked Evergreen clauses, as several have appeared in the Leasing News Bulletin Board complaints.

But the main fact prevails, in Leasing News’s opinion, if a lessee does any business with the companies on the list, they should count the payments made, should they sign the contract (don't forget to include the deposit)---and certainly have an attorney familiar with leasing read the contract and make plans to protect their client before they sign such documents.


Put a Clause Requiring Notification in Your Lease Contract

Ten Lawyers Against Evergreen Clause Abuse



Companies who utilize Evergreen Clauses
for Extra Lease Payments

The companies in this group use language in their purchase options to confuse, perhaps to deceive, with the result an automatic continuation for an additional twelve months of payments. Often they win transactions with lower monthly payments as the lessee is not aware of the practice at the end of the initial term of the lease.

Several have continuation of payments and the requirement of replacing the equipment for a new lease. Leasing News has had complaints involving companies who invoke the twelve months on a $1.00 purchase option, as well as on an Equipment Finance Agreements.

ACC Capital, Midvale, Utah
Balboa Capital, Irvine, California
IFC Credit, Morton Grove, Illinois
Jules and Associates
LEAF Financial Group
, Philadelphia, Pennsylvania
Marlin Business Leasing, Mount Laurel, New Jersey
Marquette Equipment Finance, Midvale, Utah 
Mazuma Capital Corporation, Draper, Utah
Onset Financial, South Jordan, Utah
Pacific Western Equipment Finance, Cottonwood Heights, Utah 
Republic Bank, Bountiful, Utah
Tetra Financial Group, Salt Lake City, Utah

(Click on name to learn more about the company on this list)

Orange, California

Funding Coordinator

Generate documents & addendum's, approve all signed documents, process, working closely with sales team; responsible for developing positive and strong working relationships both internally and externally.
This is a key position, important for
the growth of Quick Bridge funding

For more description of duties and requirements,
please click on position
Quick Bridge Funding provides working capital loans
to small and mid-sized companies throughout
the United States. With an innovative program
we provide capital to an to an under-served market.



New Hires---Promotions


Scott Jordan named Director of Business Development for Dynamic Financing, Inc., Englewood. Previously he was owner of All Credit Lending Solutions (August, 2005-March, 2013), senior loan officer, Alpine Mortgage (2003-2005), US Carrier sales, ITXC (1997-2001), carrier account manager, ICG Communications (1994-1997), projects, 10K Right Away (December, 2011-February, 2012), Equipment Financing in 1 Week (December, 2012). Babson College, Marketing, Finance (1974 – 1978), Activities and Societies: SJ the DJ, part of the team that created an IPO of the year in 1999 raising $265 Million for ITXC. Member: Commercial Finance Association, TIE Rockies, National Association of Equipment Leasing Brokers.

Jeff Stellinga hired by EverBank Commercial Finance as the office products sales director for the firm’s Eastern region; based out of Florida. Previously he was sr. regional sales manager, US Bank (January, 1997-August, 2009).Southwest Minnesota State University (1987 – 1991).

Press release May 1, 2011: "CoActiv welcomed Jeff Stellinga as Southeast Regional Sales Director. Mr. Stellinga’s reputation of exceptional sales growth is known throughout the office products leasing industry. While covering the Florida and Georgia market with US Bank, he grew sales from $10mm to $92mm per year. During this time, Mr. Stellinga was the #1 producer in terms of growth, volume and profitability." (CoActive recently is now part of Canadian owned Element Financial. editor)

EverBank press release states, " Stellinga has spent more than two decades in the leasing industry, with a breadth of experience in office equipment financing. Prior to his appointment as the office products sales director for EverBank Commercial Finance, he served at CoActiv Capital Partners as regional sales director for the Southeast region. Stellinga also served at a Xerox Company, where he generated 30% year-over-year sales growth for his branch in 2012. In addition, Stellinga worked at U.S. Bank in its office equipment finance division during which he worked his way up to senior regional sales manager. In his tenure at U.S. Bank, Stellinga was responsible for 13 years of consecutive year-over-year sales growth."

Rhonda Zielinski joins Chicago Freight Car Leasing as vice president of sales and customer support. She joined Navistar, Inc., June, 1986 as a technical writer and publications specialist (1986), sales engineer (1990), product configuration manager (1992-1995), strategic initiative lead (1996), director, medium truck marketing (October, 1999), director, channel marketing (October, 2002), director, new truck sales (July, 2004), district sales manager (August, 2005), director sales operations (2007), director, on-highway vehicle strategy (September, 2010). Indiana Wesleyan University Master of Science (MS), Business, Management, Marketing, and Related Support Services (1997 – 1998) Wilmington College, Bachelor of Science (BS), Marketing and Communications (1982 – 1986).

Mr. Terry Winders available as a consultant regarding assisting attorneys in resolving disputes or explaining procedures or reviewing documents as utilized in the finance and leasing industry.

He is the author of several books, including DVD's, as well as weekly columnist to Leasing News. He also performs audits of leasing companies as an expert on documentation, and has acted as an expert witness on leasing for litigation in legal and tax disputes, including before the IRS. He also has taught the senior bank examiners, how to review a bank leasing department, for the Federal Reserve in Washington D.C. and has trained the examiners for the FDIC on how to prepare a lease portfolio for sale.


(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)



Leasing Industry Help Wanted

Orange, California

Funding Coordinator

Generate documents & addendum's, approve all signed documents, process, working closely with sales team; responsible for developing positive and strong working relationships both internally and externally.
This is a key position, important for
the growth of Quick Bridge funding

For more description of duties and requirements,
please click on position
Quick Bridge Funding provides working capital loans
to small and mid-sized companies throughout
the United States. With an innovative program
we provide capital to an to an under-served market.



Business Development Officer
Baltimore-Washington DC Area

Existing client base a plus, work from
corporate office as needed.
Salary plus commission structure,
benefits, expense plan.
Allan Levine 443 796 7337
Nancy Pistorio 443 796 7325
A great place to work
35 years equipment & vehicle financing full service direct funder
for small to mid-ticket transactions,
with syndication abilities for large ticket.



For information on placing a help wanted ad, please click here:

Please see our Job Wanted section for possible new employees.

Help Wanted Classified Ads

$595 four HTML lines
(note, a space is counted as a line)
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The classified ad will appear for 21 days.

The idea is to attract an applicant to learn more, either to click to a full description on your web site or to a full job description attachment (free, no charge).

All "Help Wanted" ads go into the "Help Wanted" classified ad section, which appears in each news edition, and is well read. The ad will also appear on the web site for those who go directly to the web site section.

A "Help Wanted" ad appears at the top of the headlines in each edition in a chronological basis with other help wanted ads. The position cannot be purchased. The ad also continues to appear in the classified ad section in the news edition as well as the web site in addition to appearing above the headlines. If there is only one help wanted ad, a display ad may be utilized in the rotation basis as this position, meaning the one help wanted ad is not going to be on top in every edition.

Contact for more
information or to help word a classified ad.

Leasing News reserves the right to refuse advertising, particularly to a company that has appeared in the complaint bulletin board


Court Invalidates $21,000 Copier CoActiv Lease
to Put Out to Bid
by Sergio I. Scuteri

Local Control Public Law Prevails even over a small copier lease

Terminal Construction Corporation v. Atlantic County Sewerage Authority, 67 N.J. 403 (1975).

New Jersey's Local Public Contract Law is similar to many other states as it regulates many of the goods and services purchased by the counties; municipalities; and non-state boards, commissions, committees, authorities, and agencies throughout the State of New Jersey. The primary purpose of the law is to ensure that public contracts are awarded through a fair, open and competitive process.

the Appellate Division of the New Jersey Superior Court upheld a lower court ruling which invalidated an equipment lease that was entered into in violation of the local public contract law. In the matter of CoActiv Capital Partners, Inc. v. Englewood Housing Authority, the housing authority voluntarily entered into a copier lease which was signed by its Executive Director. The Executive Director also signed a sales order for the equipment. The housing authority further made several monthly payments under the lease, but then stopped making payments on the advice of their attorney, who informed both the housing authority and the leasing company that the agreement needed to be terminated because it violated the local public law. The leasing company sued the housing authority for breach of the lease, but the Court ruled as a matter of law that the lease was void.

The lease of a copier by the housing authority, which exceeded the monetary threshold (1), and should have been submitted to a competitive bidding process; and once a successful bidder was determined, the Board of Commissioners for the housing authority was required to authorize the execution of the lease in advance of its actual execution. In the CoActiv case, the lease was neither submitted for competitive bidding nor did the Board authorize its execution in advance of the actual signing of the lease.

The leasing company was not able to rely on the apparent authority of the Executive Director to sign the lease, nor was it able to argue that the lease was somehow ratified or adopted by the housing authority, or that the housing authority waived the requirements of the bidding procedure. The Court stated that “CoActiv, a commercial entity, should be aware of the applicable bidding laws, and that the law presumes that public contractors operate with knowledge of relevant laws concerning procedural and substantive discretion and authority of officials with whom they deal.” Saint Barnabas Medical Center v. County of Essex, 11 N.J. 67 (1988); citing Slurzberg v. Bayonne, 28 N.J. 106 (1959). Additionally, because of the strong public policy considerations surrounding public bidding statutes, the governmental entity cannot waive the provisions of the LAW. National Waste Recycling, Inc. v. Middlesex County Improvement Authority, 150 N.J. 209 (1997); L. Pucillo & Sons, Inc. v. New Milford, 73 N.J. 349 (1997).

The New Jersey local public contract identifies more than thirty exceptions under which a contract may be negotiated and awarded by the governing body without public advertising for bids and bidding. But even if an exception applies, the contract must still be awarded and approved by resolution of the governing body prior to executing the actual agreement. Still other categories of goods and services may qualify for hybrid treatment under the “competitive contracting” process where there is no requirement for advertised bidding and the process is administered by a qualified purchasing agent who will review submissions in response to Requests for Proposals.

If you are considering conducting business with a governmental agency, it would be prudent to seek the advice of legal counsel to determine whether the contemplated transaction falls under the New Jersey law and, if so, whether any of the enumerated exceptions apply. Additionally, you should never just assume that the local official with whom you have been negotiating the contract has the actual authority to contract with your company absent the existence of a resolution or similar action by the governing board authorizing the transaction. You may wish to request a copy of the resolution in advance just to be safe. Further, even if both your company and the governmental agency have fully complied with the local public contract law in awarding the initial contract, the law specifies the maximum duration of the contract or lease; and any renewals would be subject to the advertisement and bid process all over again. For example, in New Jersey, the maximum term for an equipment lease is 5 years and the maximum term for supplying food services is 3 years.

Finally, remember that the any of the state’s public contract laws are just one of many that must be considered by a business looking to enter into a contract with a governmental entity in the State of New Jersey. The Prevailing Wage Act; Public Works Contractor Registration Act; the Business Registration Act; and “Pay to Play” legislation, just to name a few, should also be given careful consideration.

(1) The monetary threshold at the time of the lease was $17,500.00

Sergio I. Scuteri is a shareholder with the law firm of Capehart & Scatchard, P.A.: Capehart Scatchard is a full service, regional, law firm with offices in New Jersey, Pennsylvania, New York, and Delaware. Mr. Scuteri specializes in the representation of national and regional lending institutions and other credit issuing entities in the areas of commercial litigation, collections, bankruptcy, work outs and foreclosures.

He may be reached at for questions regarding this article.


Failed banks: Class of 2013
By Aarti Kanjani and Robert Clark, SNL Financial

Regulators closed no banks Friday, March 22, leaving the year's total number of failures at four. In 2012, regulators had closed 15 banks through March 23.

As of March 15, the four bank failures thus far in 2013 did not involve a loss-share agreement. In 2012, the FDIC entered loss-share agreements with the buyers of 20 of the 51 closed banks. In 2011, the FDIC entered loss-share agreements with the buyers of 58 of the 92 closed banks.

The median cost to the deposit insurance fund at the time of announcement as a percentage of the failed banks' assets was 22% in 2013, 21% in 2012 and 23% in 2011.

LaGrange, Ga.-based Frontier Bank (258.8 million)

The bank was established in 1946 and had nine branches. The FDIC issued Frontier Bank a consent order on Feb. 15, 2012. Four months later, The Federal Reserve Bank of Atlanta entered into a written agreement with the bank's parent, Frontier National Corp. From 2009 to 2012, the bank lost $31.4 million. At the end of 2012, its Tier 1 ratio had fallen to 0.65%.

It's Alabama, Not Georgia Bank Failure

Chicago-based Covenant Bank ($58.4 million)

The bank was established in 1977 and had its sole branch in Chicago. n November 2012, Covenant Bank disclosed the need for an immediate capital infusion. Also that month, the bank was issued a prompt corrective action directive by the FDIC. It had been issued a consent order by the FDIC in June 2011. As of Dec. 31, 2012, the bank's Tier 1 ratio was 2.19%, and its Texas ratio was 397.27%.

African-American Religious Bank Fails in Chicago

Andover, Minn.-based 1st Regents Bank ($49.6 million)

The bank was established in 2001 and had its sole branch in Minnesota. The FDIC issued the bank a consent order in March 2010. As of Sept. 30, 2012, its equity capital fell to $924,000 and its Texas ratio was 612.51%.

Mortgage Bubble Burst Takes Another Bank Down

University Place, Wash.-based Westside Community Bank ($91.9 million)

Westside Community operated two branches in the Tacoma, Wash., area. The bank had previously agreed to sell the company to a group of investors for $5.7 million in August 2012. The FDIC issued a prompt corrective action directive to Westside Community in June 2012. As of Sept. 30, 2012, 32.50% of the bank's assets were nonperforming.

Bank in Washington State First to Fail in 2012





Commercial Real Estate Growth Small Growth
Highest at Banks between $10B and $50B
By Harish Mali and Robert Clark, SNL Financial

Total Commercial Real Estate (CRE) loans at commercial banks grew by $9.09 billion, or 0.94%, during the fourth quarter of 2012, amounting to $971.27 billion at Dec. 31, 2012. All of the components of CRE loans, except construction and land development loans, had positive growth during the quarter. Loans not secured by real estate and multifamily loans grew by 3.35% and 2.83%, respectively, during the quarter, whereas the construction and land development segment continued to skid, down by 3.22%.

SNL studied CRE trends at top-tier banks and thrifts of varying asset size and found that companies with $10 billion to $50 billion recorded the highest median loan growth of 7.38% during 2012. That category had a median delinquency rate of 2.76%. Companies with greater than $50 billion of assets saw a median decline of 3.29% in their CRE portfolio. These big banks also had the highest median delinquency rate of 3.65%.

Commercial real estate asset quality at U.S. commercial banks continues to heal, as the aggregate delinquency rate is at the lowest level in the last 16 quarters. The CRE delinquency rate stood at 4.29% at the end of 2012, significantly down relative to a recent peak of 10.76% at March 31, 2010, and the lowest level since 3.1% at the end of 2007. As a point of comparison, the pace of recovery has been less than stellar for closed-end one- to four-family loans. The aggregate delinquency rate is still in double digits at 12.30%, down 245 basis points from the recent quarterly peak at March 31, 2010.

SNL also created a list of CRE lenders with the highest growth rate in the fourth quarter of 2012. Banks and thrifts with less than $1 billion in total assets and 10% CRE composition were excluded from the analysis.

San Juan, Puerto Rico-based Oriental Financial Group Inc. topped the list, nearly tripling its CRE portfolio during the 2012 fourth quarter. Most of that growth came from non-owner-occupied CRE, acquired from Banco Bilbao Vizcaya Argentaria SA. During the quarter, Oriental Financial bought BBVA's Puerto Rico operations in a deal valued at $500 million. The delinquency rate of Oriental Financial's CRE portfolio was 15.85% as of Dec. 31, 2012, the highest among all companies on the list.

Jacksonville, Fla.-based EverBank Financial Corp was the other company to more than double its CRE portfolio in the quarter ended Dec. 31, 2012. Like Oriental Financial, the non-owner-occupied category represented most of the CRE portfolio and the growth was fueled by a significant deal. EverBank completed an acquisition of Business Property Lending Inc. from General Electric Capital Corp. in October 2012.

SNL analyzed the 2012 median CRE growth rate for U.S. states based on all commercial banks with a CRE composition greater than 10% that were based in each state. More than two-thirds of the 50 states saw an increase in CRE loans during 2012. In fact, there were six states with a double-digit growth rate. Massachusetts recorded the most growth, with a rate of 19.47%, followed by Rhode Island and Alaska at 17.89% and 12.96%, respectively. New Hampshire and the Dakotas are the other three states with growth in excess of 10%.

Sixteen states saw a decline in their CRE portfolio during the year ended Dec. 31, 2012. Idaho and North Carolina witnessed the most attrition, with respective median declines of 7.50% and 6.72% in their CRE lending during the year.

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In-N-Out’s Burger Ranked Top Fast-Food Burger in US

The Double-Double Burger from In-N-Out was ranked the “Top Fast-Food Burger” in a crowd-sourced ranking from more than 3,000 fast food customers, according to

When asked to vote on a list of “the top fast-food burgers”, the aggregated opinions of more than 3,000 individuals voters produced this top five:

  1. In-N-Out Double Double Burger
  2. Five Guys Hamburger
  3. Five Guys Bacon Cheeseburger
  4. Wendy’s Baconator
  5. Fuddruckers

“This data reflects the powerful brand loyalty and appeal of In’N’Out and Five Guys, which dominated the top three despite limited availability nationwide,” says Clark Benson, CEO of “As a native Midwesterner, I was pleasantly surprised to see the White Castle Slider in the seventh slot, as well”

Among burgers from nationwide chains, Wendy’s Baconator led the pack, followed by the Burger King Whopper, the Wendy’s Quarter Pound Single, the McDonald’s Big Mac, and the McDonald’s Quarter Pounder.

“The popularity of this ranking reflects America’s love affair with the hamburger,” Benson says. “Consumers on our site can choose among literally thousands of topics to vote on, and more than 3,000 voters decided to weigh in on the subject of fast food burgers.” is the premier data source for aggregated consumer opinions. More than seven million people go to Ranker each month to view, rank, and vote their opinions on matters both entertaining and practical.

Ranker’s propreitary algorithms and datacentric approach to opinion aggregation deliver the most credible answers from “the best” to “the worst” across a wide range of topics including food, sports, travel, entertainment, cars, and many others.



####Press Release###########################

Fed Funds Rate Below Deposits Rates for the Longest Time

The Fed Funds Effective Rate has been below the national average rate for deposits for the last 4.5 years – the longest time period on record

SAN ANSELMO, Calif. – The latest analysis from Market Rates Insight ( shows that twice in the last 20 years, the Fed Funds Effective Rate dipped below the national average rate for deposits. The current dip, which started in August of 2008, is the longest on record (last 20 years of data) and as of to-date, the dip lasted 4.5 years (See figure below). With the announcement by the Federal Open Market Committee (FOMC) last week that it will maintain rates low for now, it is plausible that the Fed Funds Effective Rate will remain lower than the national average rate for deposits until late 2014 or early 2015. The first time the Fed Funds Effective Rate dipped below the national average rate for deposits, during the last 20 years, was from October 2001 to September 2004 – a time period of three years.

In the current dip cycle, it took the Fed Funds Effective Rate only four months to drop from the cross-over point, when the Fed Funds Effective rate dips below the average deposits’ APY, to its lowest level of 0.15%. Conversely, in the first dip cycle in 2001-2004, it took the Fed Funds Effective Rate 26 months to drop from the cross-over point to its lowest level of 0.98%. Additionally, during the current dip, the negative variance between the two rates narrowed over time due to the historically low rates of deposits.

Dan Geller, Ph.D.
Exec. VP, Market Rates Insight

“There are three major differences between the two dip cycles” said Dan Geller, Ph.D. Executive Vice President at Market Rates Insight, “the current cycle, which is now 4.5 years old, is dipper, longer and more severe.”

About Market Rates Insight
Market Rates Insight (MRI, is a reputable provider of competitive-pricing information and analysis to financial institutions. MRI’s competitive data is complete, detailed and timely, which allows for the highest level of pricing precision. Therefore, the use of MRI’s competitive data ensures greater pricing optimization, and subsequently, improved profitability. In addition to competitive-pricing data, MRI also conducts pricing analysis and provides tracking of industry indexes. MRI’s indexes, published weekly in the National Pricing Indicators, are the industry standard for deposit pricing, and are viewed weekly by executives of banks and credit unions through video, audio and print channels.



#### Press Release ############################

Puget Sound Bank Acquires Core Business Bank

Acquisition comes on the heels of 53 percent annual earnings growth for the bank in 2012

BELLEVUE, WA —— Puget Sound Bank (OTCBB: PUGB), and Core Business Bank (Core) today jointly announced the signing of a definitive agreement pursuant to which Puget Sound Bank will acquire Core Business Bank for $8,425,000 with a combination of 20% cash and 80% Puget Sound Bank common stock. This value represents 132% of Core’s December 31, 2012 net book value. The acquisition is expected to be accretive to Puget Sound Bank’s earnings per share and tangible book value per share in the first full year of operations. The deal is expected to close in the second quarter of 2013 and is subject to the customary requirements that include regulatory approval as well as shareholder approval.

Upon completion of the transaction, the combined company will have over $330 million in assets. The banks have two of the highest quality loan portfolios in the State. Puget Sound Bank has non-performing loans of 0.75 percent of its total loans and Core Business Bank has zero non-performing loans. Both banks have two of the highest percentages of Commercial & Industrial (C & I) loans relative to total loans in the State.

The combined net worth of the two companies will be approximately $44 million with a total risk based capital ratio of 15 percent, well over the minimum of 10 percent, which the FDIC considers to be a well-capitalized bank. This level of net worth gives the combined company a legal lending limit, to any single entity, of approximately $9 million. The combined company will be the 29th largest bank headquartered in Washington based on deposits. There are currently 71 banks and thrifts headquartered in the State.

Jim Mitchell
President and CEO
Puget Sound Bank

“2012 was an incredible year for Puget Sound Bank, with almost $2 million in net income, 53 percent over the previous year,” explained Jim Mitchell, President and Chief Executive Officer. “We have some of the brightest and most experienced financial professionals in the business with the highest standards for customer service. This has allowed us to grow loans and deposits at the highest levels in the state since we began operations in 2005. This growth has created the platform for an acquisition strategy that has culminated in finding a partner that fits our criteria of a healthy Northwest bank that is focused on C&I lending.”

David V. Huguenin
Founder/Chief Executive Officer
Core Business Bank

“This is a great fit for both of our institutions,” says Core Business Bank founder and Chief Executive Officer, Dave Huguenin. “We have a similar culture that focuses on C & I lending and customer service, which will enable us to achieve greater success together than we could on our own.”

On December 31, 2012, Core Business Bank had $64 million in total assets, $57 million in deposits, net income for the year of $122,000 and zero non-performing loans.

Jim Schuler, current Core Business Bank board member, will join the Puget Sound Bank board of directors.

Puget Sound Bank was advised by Monroe Securities and Foster Pepper PLLC. Core Business Bank was advised by McAdams Wright Ragen, Inc. and Keller Rohrback LLP.

Both banks are headquartered in Bellevue, Washington.

Puget Sound Bank is traded on the Over-The-Counter Bulletin Board with the symbol: PUGB

About Puget Sound Bank
Puget Sound Bank is a locally-owned and operated commercial bank proudly serving the greater Puget Sound region. Based out of Bellevue, Washington, the bank was founded to meet the specialized needs of small and medium-sized businesses, commercial real estate projects, professionals and individuals seeking a higher level of service in the Puget Sound region. Staffed by the most experienced, customer-oriented banking professionals in the region, Puget Sound Bank offers a full range of competitive financial products with superior customer service and a consultative/partnership approach to its clients. Puget Sound Bank provides online banking at and has access to a large branch network in the state of Washington. The bank can also provide remote capture technology which allows its clients to make deposits from their offices. Puget Sound Bank is located at 10500 NE 8th Street, Suite 1500, Bellevue, Washington. For more information, please call 425-455-2400.

##### Press Release ############################


((Please Click on Bulletin Board to learn more nformation))
(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)


##### Press Release ############################

TRALA Elects Steve Lawrence of Lawrence NationaLease
as 2013-2014 Chairman

Directors Appointed for Various Terms

Alexandria, VA - - Lawrence NationaLease CEO, Steve Lawrence of Red Wing, Minnesota, was unanimously elected by the Board of Directors of the Truck Renting and Leasing Association (TRALA) as its 2013-2014 Chairman at the association's 2013 Annual Meeting held March 11-14 in Naples, Florida. This year's meeting was a celebration of the Association's 35th anniversary.

Steve Lawrence, CEO

“I helped found TRALA 35 years ago and I am proud to have the opportunity to again serve as Chairman of this organization as it successfully advocates for the greater industry,” said Lawrence during his acceptance speech on March 14.

“Steve has been a cornerstone of this organization. He was one of TRALA’s founding members and has stayed involved with the continuous growth and development of this association,” said TRALA president add CEO Tom James.

In addition to Brown, the TRALA Board of Directors elected the following members as officers:

  • Dan Murphy, president and chief executive officer of Idealease, Inc., North Barrington, Illinois, was elected vice chairman.

  • Scott Anderson, senior vice president of Rush Enterprises, New Braunfels, Texas, was elected secretary.

  • Kevin Coughlin, manager of leasing products for Daimler Trucks North America, Portland, Oregon, was elected treasurer.

  • Tom Brown, president of Brown NationaLease, Des Moines, Iowa, was elected immediate past chairman.

Also at the annual meeting, the following members were elected by the TRALA membership to the association’s Board of Directors for a new 2013-2016 term:

  • Scott Anderson, senior vice president of Rush Enterprises, New Braunfels, Texas

  • Dennis Cooke, president, Global Fleet Management Solutions of Ryder System, Inc., Miami, Florida

  • John Crockett, senior vice president of operations of Penske Truck Leasing Co., L.P., Duluth, Georgia

  • Bob Muhs, vice president of gov’t affairs & counsel of Avis Budget Group, Parsippany, New Jersey

  • Tom Brown, president of Brown NationaLease, Des Moines, Iowa; and

  • Brian Hard, president of Penske Truck Leasing Co., L.P., Reading, Pennsylvania.

In addition, the following members were appointed to the Board of Directors to serve one-year terms for 2013-2014:

  • Terry Dubowick, national account manager of the Mack Leasing System/Volvo Truck Leasing System, Rural Hall, North Carolina,

  • Dan Murphy, president & CEO, Idealease, Inc., North Barrington, Illinois,

  • Neil Vonnahme, president of PACCAR Leasing Company, Bellevue, Washington,

  • Mike Breeden, executive director of Cummins Inc., Columbus, Indiana,

  • Greg DiMarco, senior director, Business Development for Dana Holding Corporation, Van Buren Township, Michigan,

  • Jack McQuaid, manager, strategic accounts for Bridgestone Commercial Solutions, Sarasota, Florida; and

  • Rob Henry, vice president, leasing sales, Navistar, Inc. of Lisle, Illinois.

TRALA, based in Alexandria, VA, is a voluntary, non-profit national trade association, organized in 1978 to provide a unified and focused voice for the truck renting and leasing industry. TRALA's membership includes more than 500 leasing and rental firms and 100 suppliers that make up nearly the entire truck renting and leasing industry. The renting and leasing industry is responsible for approximately 40 percent of all new Class 3 through 8 commercial truck registrations.

#### Press Release #############################


Leasing News: Fernando's View
by Fernando Croce

Special Easter Edition

Though Christmas, Halloween and Thanksgiving all boast a long list of holiday-themed movies, Easter-related films are rarer but just as inspiring. With Easter Sunday right around the corner, take some time off from hunting eggs and check Netflix for these classic holiday choices.

Easter Parade (Charles Walters, 1948): For a tuneful holiday, tune in to this MGM classic, a Fred Astaire-Judy Garland musical which bounces along as cheerfully as the Easter Bunny. On the eve of holiday celebrations, song-and-dance man Don (Astaire) is crushed to part ways with his stage partner Nadine (Ann Miller). Determined to prove that he can get somebody else, he picks naïve showgirl Hannah (Garland) and sets out to train her for next year’s Easter parade. As her dance steps grow more assured, so does their love for each other. But can their emotions stay strong in time for Hannah’s debut? Combining toe-tapping numbers with comic elements straight out of “My Fair Lady,” the movie provides a joyous way to spend Easter with loved ones.

It’s the Easter Beagle, Charlie Brown (Phil Roman, 1974): Created by legendary cartoonist Charles Schultz, the Peanuts gang became a favorite with young viewers for specials that taught the meaning of such holidays as Christmas, Thanksgiving and Halloween. The same goes for this funny and endearing feature, which finds Charlie Brown and friends getting ready to celebrate Easter. As the great egg hunt draws near, all the characters are pursuing their own way-+s of doing the holiday justice: Charlie Brown is concerned about the commercialization of Easter, Lucy is setting up her own private egg hunt, and Peppermint Patty is teaching Marcie the proper way to paint eggs. Meanwhile, Linus is telling everyone about the Easter Beagle, a role tailor-made for the one and only Snoopy. Amusing and heartwarming fun for the entire family.

The Gospel According to St. Matthew (Pier Paolo Pasolini, 1964): For an unconventional yet inspiring account of the life and death of Jesus, try this one-of-a-kind classic from Italy. The director, Pier Paolo Pasolini, believed in the neo-realist style of movies, which told stories using real locations and (in contrast to most Hollywood epics) non-professional actors for maximum authenticity. As a result, his version of the story of Jesus (played by Enrique Irazoqui) often has the naturalistic freshness of a documentary, with the impression of a camera eavesdropping on the likes of Mary, Peter and John the Baptist. By cutting away at the pomp of the usual Testament spectacle, Pasolini gets to heart of the teachings of Jesus, and makes viewers discover them anew.

The Last Temptation of Christ (Martin Scorsese, 1988): Martin Scorsese’s characters often deal with turbulent spiritual struggles, so it was only a matter of time before he directed a film dealing directly with Christ. When it was first released, this portrayal of the life of Jesus (played by Willem Dafoe) stirred tremendous controversy, condemned by religious figures before it even opened. Seen today, however, the most startling thing about it is how tender and lyrical it is in its view of a man torn between his holy and human impulses. Following Jesus and his relationships with Judas (Harvey Keitel) and Mary Magdalene (Barbara Hershey), Scorsese’s film is at once remarkably visceral and achingly spiritual, and a far preferable modern take than Mel Gibson’s blood-soaked 2004 epic.

Amazing Grace (Michael Apted, 2006): For a movie that illustrates the most stirring principles behind Easter, viewers can’t go wrong with this handsome telling of a deeply poignant chapter of history. Set in the 18th-century, it follows the life of William Wilberforce (Ioan Gruffudd), who as an ambitious, idealist member of the British Parliament took on the controversial issue of the slavery trade. Facing frustrating odds from politicians and merchants alike, he draws inspiration from his wife (Romola Garai), fellow abolitionists, and, above all, from his mentor John Newton (Albert Finney), a former slave ship owner who changed his ways after finding Christianity and writing the verses for the titular hymn. Though it has all the trappings of standard, stuffy period pieces, director Michael Apted’s underrated film remains compelling to the end.


Labrador Retriever/Shepherd (Unknown Type) Mix
Boston, Massachusetts Adopt-a-Dog

ID#: 5223246-JM
Breed: Labrador Retriever/Shepherd (Unknown Type)
Sex: Female
Color: Black - With White
Age: almost two years old
Size: 50 pounds

I am already spayed, housetrained, up to date with shots, good with kids, and good with dogs.

PHILLY's Story..

Please contact Kelley ( for more information about this pet.

"PHILLY is a lab/shepherd mix abandoned in a rural area. Her people moved and left her behind. We estimate her date of birth to be April 15, 2011. She is fully grown, stands about 24 inches at the shoulder and weighs 50 lb. She has been de-wormed, is spayed, fully-vaccinated and heartworm negative. She is current on flea, tick and heartworm prevention.

“Philly is friendly, affectionate, and plays well with other dogs. She is crate-trained for nighttime sleeping, house-trained, leash-trained and will sit for a treat. She also knows how to use a doggie door to go in and out.

"Philly loves to play, relishes her meals and is absolutely devoted her humans. She would make a wonderful family dog who would be great with kids of all ages. This dog is currently located in Arkansas and will be transported to the northeast once adopted."

For more information please email

Contact This Rescue Group...
Rescue Group: Adopt-A-Stray - MA
Pet ID #: 5223246-JM
Contact: Kelley Prichard
Let 'em know you saw "PHILLY" on!
Address: Boston, MA 02109


Adopt-a-Pet by Leasing Co. State/City

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Classified Ads---Employment Web Sites

Here is a list of top internet job web sites, several specializing in financial, money, and leasing, too.




News Briefs----


Twitter Takes Aim At $1 Billion A Year In Ad Revenue By 2014 – EMarketer

McDonald’s Fires Volley at ‘Underground’ Competitor

Memo to the governor: A post-Boeing state

Judge approves American-US Airways merger

2013 Holi Festival in India, part two

Attacks Used the Internet Against Itself to Clog Traffic



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Washington island landslide affects 34 homes



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Spring Poem

Mending Wall

by Robert Frost

SOMETHING there is that doesn’t love a wall, 
That sends the frozen-ground-swell under it, 
And spills the upper boulders in the sun; 
And makes gaps even two can pass abreast. 
The work of hunters is another thing: 
I have come after them and made repair 
Where they have left not one stone on a stone, 
But they would have the rabbit out of hiding, 
To please the yelping dogs. The gaps I mean, 
No one has seen them made or heard them made, 
But at spring mending-time we find them there. 
I let my neighbour know beyond the hill; 
And on a day we meet to walk the line 
And set the wall between us once again. 
We keep the wall between us as we go. 
To each the boulders that have fallen to each. 
And some are loaves and some so nearly balls 
We have to use a spell to make them balance: 
“Stay where you are until our backs are turned!” 
We wear our fingers rough with handling them. 
Oh, just another kind of out-door game, 
One on a side. It comes to little more: 
There where it is we do not need the wall: 
He is all pine and I am apple orchard. 
My apple trees will never get across 
And eat the cones under his pines, I tell him. 
He only says, “Good fences make good neighbors.” 
Spring is the mischief in me, and I wonder 
If I could put a notion in his head: 
“Why do they make good neighbors? Isn’t it 
Where there are cows? But here there are no cows. 
Before I built a wall I’d ask to know 
What I was walling in or walling out, 
And to whom I was like to give offence. 
Something there is that doesn’t love a wall, 
That wants it down.” I could say “Elves” to him, 
But it’s not elves exactly, and I’d rather 
He said it for himself. I see him there 
Bringing a stone grasped firmly by the top 
In each hand, like an old-stone savage armed. 
He moves in darkness as it seems to me, 
Not of woods only and the shade of trees. 
He will not go behind his father’s saying, 
And he likes having thought of it so well 
He says again, “Good fences make good neighbors.”




Sports Briefs----

Raiders release DT Tommy Kelly

Shane Lechler sings with Houston Texans

Alex Smith gave his all - off the field, too

Falcons finalize two-year deal with Umenyiora

A.J. Smith missed at USC's pro day

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• Third-party Commercial Collections
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Receivables Management

For flat fee or commissions basis | ph 315-866-1167|





California Nuts Briefs---

Caltrans on tight schedule to repair Bay Bridge broken bolts

Google to make Glass in Silicon Valley, report says

The incredible soaring S.F. Bay Area home prices


“Gimme that Wine”

Wine of the week: Stephen Vincent 2011 California Pinot Noir

Meet Paul Hobbs 2.0

Draped in Red, White and Blue--by Eric Asimov

Privatization Bill Makes History in Pennsylvania

Wine Talk: Rachel Dratch

Free Mobile Wine Program

Wine Prices by vintage

US/International Wine Events

Winery Atlas\

Leasing News Wine & Spirits Page


This Day in History


       1776 - Juan Bautista de Anza, one of the great western pathfinders of the 18th century, arrives at the future site of San Francisco with 247 colonists. Anza established a presidio, or military fort, on the tip of the San Francisco peninsula. Six months later, a Spanish Franciscan priest founded a mission near the presidio that he named in honor of St. Francis of Assisi-in Spanish, San Francisco de Asiacutes. The most northerly outpost of the Spanish Empire in America, San Francisco remained an isolated and quiet settlement for more than half a century after Anza founded the first settlement. It was not until the 1830s that an expansionist United States began to realize the commercial potential of the magnificent natural harbor. In the wake of the Mexican War, the U.S. took possession of California in 1848, though San Francisco was still only a small town of 900 at that time. With the discovery of gold that year at Sutter's Fort, however, San Francisco boomed. By 1852, San Francisco was home to more than 36,000 people. The founder of San Francisco did not live to see it flourish. After establishing the San Francisco presidio, Anza returned to Mexico. In 1777, he was appointed governor of New Mexico 
    1788-- Maryland becomes the seventh state in what will become the United States of America. It is named in honor of Queen Henrietta Maria, wife of King Charles I of England.
    1799-New York State abolished slavery 
    1811-Saint John Nepomucene Neuman, first male saint of the US. Born at Prachatice, Bohemia, came to the US in 1836. As Bishop of Philadelphia, he was affectionately known as the "Little Bishop." Died at Philadelphia, PA, Jan 5, 1860. Beatified Oct 13, 1963. Canonized June 19, 1977 
    1834- The Senate passed a resolution sponsored by Senator Henry Clay of Kentucky to censure President Andrew Jackson for his handling of the Bank of the United States, "...assumed upon himself authority and power not conferred by the constitution and laws..." President Jackson on April 1 signed a president resolution against the Senate for censuring him. He succeeded in having them removed from the Senate journal in the following year.
    1848- Ohio became the first state to regulate working hours, fixing the maximum of ten hours per day for women and children under 18 years of age. New Hampshire had set a similar provision in 1847, but had a provision that both parties had to agree, as a result the law was ineffective.
    1862- at Pigeon's Ranch, a stagecoach stop on the Santa Fe Trail (about 19 miles southeast of Santa Fe, NM), Confederate forces briefly prevailed over Union troops in what some have called the most important battle of the Civil War in the Southwest. It was feared that if Union troops failed to hold here, the confederate forces would proceed to Fort Union and on to control of the rich gold fields of Colorado and California.
    1881-P .T. Barnum and James A. Bailey merged their circuses to form the "Greatest Show on Earth."
    1882--Birthday of Frances Elliott Davis - U.S. nurse and community leader; broke the color line of the American National Red Cross nursing staff and administration.
    1884 -- Cincinnati townspeople, unhappy authorities had not handed out a severe enough punishment to confessed murderer William Berner, show their displeasure by burning down the local courthouse. The State Militia is called out to restore order; in the ensuing battle, 42 were killed & 128 injured.
    1885 -- The Salvation Army is officially organized in the United States. 
    1890-bandleader Paul Whiteman born Denver, Colorado
    1899-August Adolphus “ Gussie” Busch, Jr., baseball executive born at St. Louis, MO. Busch bought the St. Louis Cardinals in 1953 and became one of the most influential team owners. He tied the success of the sport to the growth of his brewery’s sales and took great pleasure in both. Died at St. Louis, September 29, 1989.
    1908 -- Automobile owners lobby Congress in support of a bill that calls for vehicle licensing and federal registration. 
    1909 -- Novelist Nelson Algren (A Walk on the Wild Side) born (1909-1981), Detroit, Michigan. Grew up in Chicago in a poor Polish neighborhood, served a four-month jail term for stealing a typewriter. Algren joined John Reed Club & was editor of the New Anvil, an experimental magazine. Heavy drinker and gambler, involved with Simone de Beauvoir. “Never play cards with a man called Doc. Never eat at a place called Moms. Never sleep with a woman whose troubles are worse than your own.”
    1917 - Thane Creek, AK, reported a snow cover of 190 inches.
    1920 - The worst tornado disaster of record occurred in Chicago IL as a tornado killed 28 persons and caused three million dollars damage.
    1921- President Warren Harding names former US President William Howard Taft as chief justice of the United States.
    1922-the microfilm reading device was invented by Bradley Allen Fiske of Washington, DC, who received a patent on a “reading machine.” It was known as a Fiskeoscope and could be carried in the pocket. A 2.5-inch newspaper column was reduced to .025 inches and 100,000 words were contained on a 40-inche tape.
    1923—Trumpet player Thad Jones Birthday
    1926---Birthday of Blossom Dearie, famous jazz supper club style singer, pianist, and recording artist. Her mother, a Norwegian immigrant, also played the piano. 
    1926--Birthday of Harper Lee, perhaps best known recently as a close friend of Truman Capote. She wrote only one novel, To Kill A Mockingbird which won the 1961 Pulitzer Prize for Fiction and a cash prize of $500. 
It was made into a successful Hollywood movie which won Gregory Peck an Oscar and Best Picture of the Year.
    1934--Birthday of Lopis Duncan - U.S. author, primarily of children's books.
    1941--Birthday of Ann-Margaret (Olsson) - Swedish-born American actor and singer. She received a 1971 Academy Award nomination for her work in the cult film Carnal Knowledge. Perhaps best known for accompanying Bob Hope and his troupe to military bases during Viet Nam, very popular with the soldiers not just for her looks but for her attention and recognition to them after the war. The story circulating the internet that At a book signing, actress Ann-Margaret autographed a tattered photo presented to her by an ex-G.I. and thanked him for serving his country is true.
    1944-“Rick” Barry III, broadcaster and Basketball Hall of Fame forward, born Elizabeth, NJ.
    1945- A record heat wave hit the northeast, bringing temperatures of 90 degrees in Rhode Island and 91 degrees in New York, Pennsylvania and Maryland.
    1945--HEDRICK, CLINTON M. Medal of Honor
Rank and organization: Technical Sergeant, U.S. Army, Company I, 194th Glider Infantry, 17th Airborne Division. Place and date: Near Lembeck, Germany, 27-28 March 1945. Entered service at: Riverton, W. Va. Birth: Cherrygrove, W. Va. G.O. No.: 89, 19 October 1945. Citation: He displayed extraordinary heroism and gallantry in action on 2728 March 1945, in Germany. Following an airborne landing near Wesel, his unit was assigned as the assault platoon for the assault on Lembeck. Three times the landing elements were pinned down by intense automatic weapons fire from strongly defended positions. Each time, T/Sgt. Hedrick fearlessly charged through heavy fire, shooting his automatic rifle from his hip. His courageous action so inspired his men that they reduced the enemy positions in rapid succession. When 6 of the enemy attempted a surprise, flanking movement, he quickly turned and killed the entire party with a burst of fire. Later, the enemy withdrew across a moat into Lembeck Castle. T/Sgt. Hedrick, with utter disregard for his own safety, plunged across the drawbridge alone in pursuit. When a German soldier, with hands upraised, declared the garrison wished to surrender, he entered the castle yard with 4 of his men to accept the capitulation. The group moved through a sally port, and was met by fire from a German self-propelled gun. Although mortally wounded, T/Sgt. Hedrick fired at the enemy gun and covered the withdrawal of his comrades. He died while being evacuated after the castle was taken. His great personal courage and heroic leadership contributed in large measure to the speedy capture of Lembeck and provided an inspiring example to his comrades. 
    1950-The City College of New York (CFCNY) defeated Bradley, 71-68, in the title game of the NCAA basketball tournament, thereby becoming the only team to win both that championship and the NIT title in the same year. Ten days before, CCNY had beaten Bradely, 69-61 to win the NIT. 
    1951 - No. 1 Billboard Pop Hit: ``If,'' Perry Como.
    1951---Top Hits
If - Perry Como
Be My Love - Mario Lanza
Mockingbird Hill -Patti Page
The Rhumba Boogie - Hank Snow
1957, the first National curling championship competition was held on March 28-30 at the Stadium Club in Chicago, IL, with 10 teams competing. The winner was the Hibbin Curling Club fro Hibbing, MN, which won eight games and lost one.
    1953--MATTHEWS, DANIEL P. Medal of Honor
Rank and organization: Sergeant, U.S. Marine Corps, Company F, 2d Battalion, 7th Marines, 1st Marine Division (Rein.). Place and date: Vegas Hill, Korea, 28 March 1953. Entered service at. Van Nuys, Calif. Born: 31 December 1931, Van Nuys, Calif. Award presented: 29 March 19S4. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty while serving as a squad leader of Company F, in action against enemy aggressor forces. Participating in a counterattack against a firmly entrenched and well-concealed hostile force which had repelled 6 previous assaults on a vital enemy-held outpost far forward of the main line of resistance Sgt. Matthews fearlessly advanced in the attack until his squad was pinned down by a murderous sweep of fire from an enemy machine gun located on the peak of the outpost. Observing that the deadly fire prevented a corpsman from removing a wounded man lying in an open area fully exposed to the brunt of the devastating gunfire, he worked his way to the base of the hostile machine gun emplacement, leaped onto the rock fortification surrounding the gun and, taking the enemy by complete surprise, single-handedly charged the hostile emplacement with his rifle. Although severely wounded when the enemy brought a withering hail of fire to bear upon him, he gallantly continued his valiant l-man assault and, firing his rifle with deadly effectiveness, succeeded in killing 2 of the enemy, routing a third, and completely silencing the enemy weapon, thereby enabling his comrades to evacuate the stricken marine to a safe position. Succumbing to his wounds before aid could reach him, Sgt. Matthews, by his indomitable fighting spirit, courageous initiative, and resolute determination in the face of almost certain death, served to inspire all who observed him and was directly instrumental in saving the life of his wounded comrade. His great personal valor reflects the highest credit upon himself and enhances the finest traditions of the U.S. Naval Service. He gallantly gave his life for his country.
    1958- Eddie Cochran records "Summertime Blues."
    1958- Alan Freed's Big Beat Show tour kicks off the first of its 43 shows at the Brooklyn Paramount Theater with Buddy Holly, Jerry Lee Lewis, Chuck Berry, Danny and the Juniors, Frankie Lymon and the Teenagers, The Chantels, The Diamonds, Screaming Jay Hawkins, and more. 
    1959---Top Hits
Venus - Frankie Avalon
Tragedy - Thomas Wayne
Come Softly to Me - The Fleetwoods
Don’t Take Your Guns to Town - Johnny Cash
    1964-Madame Tussaud's Wax Museum in London announces the Beatles will be cast in wax, the first pop album stars to be honored.
    1964 -- The Beatles' "Can't Buy Me Love" enters the charts
    1964 -- Jan and Dean's "Dead Man's Curve" enters the charts 
    1965 -- Martin Luther King, Jr., on TV calls for boycott buses and trains (I believe) in Alabama. March 21 he and John Lewis of the Student Nonviolent Coordinating Committee (SNCC-we pronounced “snick”- started a five-day civil rights march from Selma to Montgomery, Alabama, with 3,200 marches. Part of this I covered by radio from San Francisco, actually speaking with small town police dispatchers who were surprised that a radio station in San Francisco was interested in the "demonstration," one of the words used. At the end, 25,000 gathered in demonstrations at the front of the state capitol in Montgomery. The police and sheriff, and apparently the majority of the citizens were against Dr. King, Jr. and his followers. There was a San Francisco group from SNCC who also would call from telephone booths at the end of the day. The day before Dr. King, Jr. appeal on television ( not the media it is today primarily due to the technocracy of the day), Viola Greeg Liuzzo, a civil rights worker from Detroit,
Michigan was shot and killed in Selma, Alabama.
    1965- President Lyndon Johnson appeared on television, flanked by FBI Director J. Edgar Hoover and Attorney General Nicholas Katzenbach, and announced the arrests of four Klansmen in connection with the Liuzzo murder. President Johnson stated: 
Due to the very fast and the always efficient work of the special agents of the FBI who worked all night long immediately after the tragic death of Mrs. Viola Liuzzo on a lonely road between Selma and Montgomery, Alabama, arrests were made a few minutes ago of four Ku Klux Klan members . . . charging them with conspiring to violate the civil rights of the murdered woman. After naming the arrested Klansmen, the President continued: I cannot express myself too strongly in praising Mr. Hoover and the men of the FBI for their prompt and expeditious and very excellent performance in handling this investigation. It is in keeping with the dedicated approach that this organization has shown throughout the turbulent era of civil rights controversies.
New York Times, March 27, 1965.
One of the arrested Klansmen, Gary Rowe, later surfaced as an undercover FBI informant. Rumors that one of the Klansmen was an informant began to circulate when a federal grand jury indicted only three of the Klansmen, and were confirmed when the informant testified, under heavy guard, before the Alabama grand jury. On Rowe's testimony, the state grand jury returned murder indictments against the three other men who were in the car.
Three criminal trials resulted from the Liuzzo murder: two murder trials in the state courts and one federal conspiracy trial. Only one of the three indicted Klansmen was tried on the murder charge, Collie LeRoy Wilkins. His first trial resulted in a hung jury, and the second in an acquittal. All three Klansmen were successfully prosecuted on the federal charge of conspiring to violate Mrs. Liuzzo's civil rights, and, on verdicts of guilty, each received the maximum sentence.
Gary Rowe testified at all three trials, and related both the background of his involvement with the Ku Klux Klan and the FBI, and his version of the events which took place on March 25. Rowe testified that he was approached by an FBI agent in 1960 or 1961 and was asked to infiltrate the Klan. His duties, he stated, were to "keep up with" any violent actions, and to report to the FBI on the men whom he met in his undercover work.
Note: A book is available on this: The Informant: The FBI, the Ku Klux Klan, and the Murder of Viola Liuzzo

    1966--INGRAM, ROBERT R. Medal of Honor
For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty while serving as Corpsman with Company C, First Battalion, Seventh Marines against elements of a North Vietnam Aggressor (NVA) battalion in Quang Ngai Province Republic of Vietnam on 28 March 1966. Petty Officer Ingram accompanied the point platoon as it aggressively dispatched an outpost of an NVA battalion. The momentum of the attack rolled off a ridge line down a tree covered slope to a small paddy and a village beyond. Suddenly, the village tree line exploded with an intense hail of automatic rifle fire from approximately 100 North Vietnamese regulars. In mere moments, the platoon ranks were decimated. Oblivious to the danger, Petty Officer Ingram crawled across the bullet spattered terrain to reach a downed Marine. As he administered aid, a bullet went through the palm of his hand. Calls for "CORPSMAN" echoed across the ridge. Bleeding, he edged across the fire swept landscape, collecting ammunition from the dead and administering aid to the wounded. Receiving two more wounds before realizing the third wound was life-threatening, he looked for a way off the face of the ridge, but again he heard the call for corpsman and again, he resolutely answered. Though severely wounded three times, he rendered aid to those incapable until he finally reached the right flank of the platoon. While dressing the head wound of another corpsman, he sustained his fourth bullet wound. From sixteen hundred hours until just prior to sunset, Petty Officer Ingram pushed, pulled, cajoled, and doctored his Marines. Enduring the pain from his many wounds and disregarding the probability of his demise, Petty Officer Ingram's intrepid actions saved many lives that day. By his indomitable fighting spirit, daring initiative, and unfaltering dedications to duty, Petty Officer Ingram reflected great credit upon himself and upheld the highest traditions of the United States Naval Service. 
    1967 – “Raymond Burr starred in a TV movie titled "Ironside". The show, about a wheelchair-bound detective, became very popular as a weekly series in the spring of 1967. Burr, known to millions as determined lawyer, "Perry Mason" (a past TV hit), played the part of Robert Ironside in the new show. He was joined by characters, Detective Sgt. Ed Brown (Don Galloway), Eve Whitfield (Barbara Anderson), Mark Sanger (Don Mitchell) and Commissioner Dennis Randall (Gene Lyons).
    1967---Top Hits
Happy Together - The Turtles
Dedicated to the One I Love - The Mamas & The Papas
There’s a Kind of Hush - Herman’s Hermits
I Won’t Come in While He’s There - Jim Reeves
    1967-Van Morrison records "Brown Eyed Girl", which will enter the Billboard chart next August and rise to #10. The song was inducted into the Grammy Hall of Fame in 2007. 
    1968-the controversial rock musical Hair, produced by Michael Butler. opened at the Biltmore Theatre at New York City , after playing off-Broadway. For those who opposed the Vietnam War and the "Establishment," this was a defining piece of work-as evidenced by some of its songs, such as "Aquarius," "Flair" and "Let the Sunshine In."
    1968 - No. 1 Billboard Pop Hit: ``(Sittin' on) The Dock of the Bay,'' Otis Redding. The song reaches No. 1 three months after Redding is killed in a plane crash near Madison, Wis.
    1969 - Joe Cocker played his first American concert. He entertained fans at Billy Graham’s Fillmore East
in New York City
    1970-Crosby, Stills, Nash and Young's "Woodstock" is released.
    1970-Vietname Moratorium Concert: a seven-hour concert at Madison Square Garden at New York City featured many stars who donated their services for the antiwar cause. Among them were Jimi Hendrix; Dave Brubeck; Harry Belafonte; Peter, Paul and Mary; Judy Collins; the Rascals; Blood, Sweat and Tears and the Broadway cast of Hair.
    1971 - No. 1 Billboard Pop Hit: ``Just My Imagination (Running Away with Me),'' The Temptations.
    1973-Wilt Chamberlain retired from the NBA after playing in 1,045 games. During his entire 14-season career, Chamberlain never fouled out.
    1973- Pink Floyd's LP Dark Side of the Moon hits #1
    1974 - A streaker (i.e.: someone running around naked), ran onto the set of "The Tonight Show starring Johnny Carson". The clever NBC censors decided to blackout the lower half of the TV screen on the videotape to prevent an ‘X’ rating. The streaker was arrested, but released, for "lack of evidence," said Johnny. 
    1974- "Hooked on a Feeling" by Blue Swede turns gold. The band's novel version of the BJ Thomas' 1968 song hits Number One next month. 
    1974 - The Raspberries split up. The group's biggest hit is ``Go All the Way,'' which went all the way to No. 5 on Billboard's Hot 100 in 1972.
    1975-- Barbra Streisand attends tonight's Elvis Presley show in Vegas and meets the King backstage to discuss offering him the lead role in her latest film project: a remake of the classic A Star Is Born. Despite the fact that Streisand's boyfriend, stylist Jon Peters, is slated to produce and direct, Presley is said to be ecstatic about the project. 
    1975---Top Hits
My Eyes Adored You - Frankie Valli
Lady Marmalade - LaBelle
Lovin’ You - Minnie Riperton
Before the Next Teardrop Falls - Freddy Fender
    1977 – 49th Annual Academy Awards presentation at Dorothy Chandler Pavilion in Los Angeles, hosted by a cast of four (Warren Beatty, Ellen Burstyn, Jane Fonda, and Richard Pryor), "Rocky" collected Oscars for Best Picture (Irwin Winkler, Robert Chartoff, producers); Best Director (John G. Avildsen); and Film Editing (Scott Conrad, Richard Halsey). "Network" hauled in the gold for Best Actor (Peter Finch); Actress (Faye Dunaway); Supporting Actress (Beatrice Straight); and Writing (Paddy Chayefsky). "All the President’s Men" was given awards for Best Supporting Actor (Jason Robards); Art Direction (George Jenkins); Set Direction (George Gaines); Sound (Dick Alexander, Les Fresholtz, Arthur Piantadosi, Jim Webb); and Writing (William Goldman). The Best Music/Song Oscar-winner titles are memorable too: Barbra Streisand (music) and Paul Williams (lyrics) for "Evergreen (Love Theme from A Star Is Born)" from
"A Star is Born".
    1979-Three Mile Island nuclear reactor complex near Middletown, PA sustained a major accident, the first of its kind. Homes in nearby neighborhoods were evacuated after the reactor suffered a loss of coolant and a partial core meltdown caused by a series of equipment failures and human errors.
    1980-although springtime was starting in the Rocky Mountains, the snow just kept on coming! One foot or more of snow fell over portions of eastern Colorado, southwest Nebraska, northwest Kansas and southeastern Wyoming. Winds reached 40 mph and Valentine, Nebraska received 13 inches of snow. North Platte, Nebraska checked in with 15 inches.
    1983---Top Hits
Billy Jean - Michael Jackson
Do You Really Want to Hurt Me - Culture Club
Hungry like the Wolf - Duran Duran
Swingin’ - John Anderson
    1984-With little or no warning, the Baltimore Colts loaded moving vans in the dead of night and left for Indianapolis. Baltimore was left without an NFL team until 1996 when the Cleveland Browns moved there and were renamed the Ravens.
    1984-- Mick Fleetwood, whose band, Fleetwood Mac, had the biggest-selling album of all time just seven years earlier, files for bankruptcy.
    1985-- At 10:15 am EST, 6,000 North American radio stations begin playing the all-star benefit single, "We Are The World," written by Michael Jackson and Lionel Richie and performed by a cast of 45 of music's biggest stars, including Ray Charles, Bob Dylan, Bruce Springsteen, Stevie Wonder, Paul Simon, Diana Ross, Billy Joel, Tina Turner, Dionne Warwick, Willie Nelson, and Daryl Hall. Proceeds from the sale of the single and related items -- some $38 million -- go to benefit victims of the recent Ethiopian famine. 
    1985 - Bill Cosby broke more records with "The Cosby Show" on NBC-TV. The program was the highest-rated program of any network series since 1983. "The Cosby Show" became the highest-rated series since 1978 when "Mork and Mindy", starring Robin Williams and Pam Dawber, premiered on ABC.
    1984 -severe thunderstorms in the southeastern US spawned 36 tornadoes which tore paths of devastation across the Carolinas during the afternoon and evening hours killing 59 people and injuring 1248 others. One tornado near Tatum, South Carolina, an F4 on the Fujita scale, was 2.5 miles wide at one point. This outbreak was the worst in the area in 60 years.
    1986 - No. 1 Billboard Pop Hit: ``Rock Me Amadeus,'' Falco. The Austrian singer says he was inspired to write the song about Wolfgang Amadeus Mozart after seeing the movie ``Amadeus.''
    1987 - The second blizzard in less than a week was in progress across the central plains. 16 inches of snow was recorded at Blue Hill, Nebraska and 14 inches piled up at Omaha, Nebraska. 12 to 18 inches of snow was common across northwestern Kansas. Winds gusting up to 70 mph whipped drifts 20 to 30 feet high in some places. The storm took a great toll on cattle as well.
    1989-softball pitchers Cathy McAllister and Stefni Whitton of Southwestern Louisiana performed a feat unprecedented in NCAA history by throwing back-to-back perfect games against Southeaster Louisiana. McAllister won, 5-0, and Whitten struck out 14 to winning 7-0.
    1990 –62nd Annual Academy Awards, staged at the Dorothy Chandler Pavilion, Los Angeles, with Billy Crystal as host. Academy of Motion Picture Arts and Sciences (AMPAS) members voted "Driving Miss Daisy" the Best Picture of 1989 (Richard D. Zanuck, Lili Fini Zanuck, producers). The Best Director Oscar was won by Oliver Stone for "Born on the Fourth of July". Best Actor was Daniel Day-Lewis for "My Left Foot" and Best Actress was Jessica Tandy in "Driving Miss Daisy" (the 80-year-old actress was a favorite to win). Oscars for Actor and Actress in a Supporting Role went to Denzel Washington ("Glory") and Brenda Fricker ("My Left Foot"), respectively. Best Music/Song winners were Alan Menken (music), Howard Ashman (lyrics) for "Under the Sea" from "The Little Mermaid". You’re probably still humming this tune from that full-length animated film from Walt Disney Studios. Other popular 1989 films that were honored as nominees or winners include: "Field of Dreams"; "Indiana Jones and the Last Crusade"; "Back to the Future Part II"; "Lethal Weapon II"; "Batman"; "Dead Poets Society"; "When Harry Met Sally"; and "Sex, Lies, and Videotape". 
    1990 - Jesse Owens receives the Congressional Gold Medal from President George Bush.
    1991---Top Hits
One More Try - Timmy -T-
Coming Out of the Dark - Gloria Estafan
This House - Tracie Spencer
Loving Blind - Clint Black
    1992- 1.6 inches of snow fell on this date at Syracuse, New York. This brought the seasonal snowfall total to 162.8 inches which set a new all-time seasonal snowfall record for the location. The old seasonal record was 162.0 inches set back in the winter of 1989-90.
    1996- Williamsport, Pennsylvania recorded .8 inches of snow on this day to bring its seasonal snowfall total to 83.9 inches -- the city's snowiest winter ever. 
    1996-- Twenty years to the day after first appearing with them on stage as their new lead singer, Genesis front man Phil Collins announces he is leaving the group.

NCAA Basketball Champions This Date

    1942 Stanford
    1944 Utah
    1950 CCNY
    1977 Marquette



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